SpaceX Generates $7.56 Billion From AI as Meta Forecasts Capital Spending of Up to $145 Billion
Key Facts
Third-quarter 2026 results showed that SpaceX’s AI segment, which the company calls “superintelligence,” generated $7.560 billion in revenue, exceeding the communications segment’s $5.248 billion. The segment had generated $813 million in the same period a year earlier. But the revenue lead did not translate into the highest operating income: the AI segment posted operating income of $431 million, compared with $2.367 billion for communications. According to the Associated Press, Starlink remained the company’s biggest profit generator. The results highlight the gap between the pace of growth in the AI business and its operating contribution compared with communications.
SpaceX’s total third-quarter revenue rose by $8.999 billion, or 161.4%, compared with the third quarter of 2025. The company attributed most of the increase to its AI segment, which added $6.747 billion in revenue over the comparison period. The figures show that the segment’s expansion was the biggest driver of the quarterly revenue jump, with contributions from the communications and space segments as well. At the same time, higher revenue does not mean the segment became the most profitable, as operating income in communications remained higher than in AI. Comparing revenue with operating income provides a fuller picture of each business’s position within the company.
SpaceX disclosed that its installed nominal computing capacity reached 1.7 gigawatts on September 30, 2026, up from 0.6 gigawatts on the same date in 2025. The company said the metric is calculated using installed GPUs and their nominal electrical capacity. The capacity expansion coincides with the AI segment rising to the top spot among the company’s segments by revenue. On the other side of its business, consumer Starlink subscribers numbered 13.6 million on September 30, compared with 7.2 million on the same day a year earlier. These indicators put the computing and AI business alongside an expanding satellite communications subscriber base.
Meta, by contrast, reported negative free cash flow in the third quarter, while quarterly revenue reached $64.60 billion, up 26% year over year. The company attributed revenue growth to higher advertising revenue. Meta expects capital expenditure of between $135 billion and $145 billion in 2026 to support its AI efforts and core business. The company said available liquidity and cash flows are sufficient to meet operating needs and cash obligations, including infrastructure and AI investments, over the next twelve months and beyond. Planned spending growth thus coincides with revenue growth, while the investment’s impact on cash flow remains a focus in the quarter’s results.
The Associated Press reported that more than 10 million people in the United States and Canada had created accounts on Muse as of October 21, 2026. The agency said about 25% of those who created an account use it on a given day. It quoted Mark Zuckerberg as saying Meta expects to improve Muse’s cost efficiency by more than 10 times over the next year. He added that the improvement could enable profitability once revenue sources reach scale. These expectations put lower service costs within the company’s stated path to linking product adoption with revenue potential, while the announced capital spending remains directed toward AI and core businesses.
In trading, SpaceX shares rose 7.5% in after-hours trading after the results were announced on October 20, 2026, according to the Associated Press. The agency also reported that Meta shares closed up 0.5% in regular trading on October 21, then rose 2.9% after hours following the results announcement. EL7 data showed META closing at $644.43 on October 23, after $648.85 on October 22. SPCX closed at $144.75 on October 22, according to the same data. SpaceX forecast capital expenditure of $35 to $40 billion in the fourth quarter of 2026, after recording $19.6 billion in the third quarter, nearly three times its level a year earlier.